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Companies Will Collaborate On Battery Storage, Control
System

An aviation alternative energy technology company and a
designer of mobile power products have agreed to collaborate on the
development, integration and manufacturing of battery storage
systems for Bye Energy's electric and electric-hybrid propulsion
system for general aviation aircraft.

Bye Energy and Panacis signed the agreement earlier this week.
In a news release Tuesday, George Bye, CEO of Bye Energy, said
Panacis is an exciting, experienced developer of battery systems
that is making a vital contribution to the program. "Panacis plays
a critical research and engineering role in the assembly of our
alternative energy system," Bye said. "Panacis technology will
allow us to unlock the capabilities of our advanced lithium cells,
making the electric Cessna 172 battery units among the most
advanced in the world."

Steve Carkner, CEO of Panacis, sees that Bye Energy is expanding
the possibilities of aviation power systems, and is creating a
compelling showcase for Panacis' innovative aviation battery
products. "Panacis has been turning heads in the aerospace industry
with its high performing and efficient advanced lithium battery
systems," he said. "We are excited to be part of this
ground-breaking project, and are confident that our aircraft
battery and power systems will enable Bye Energy to unlock and
advance the performance potential of their electric propulsion
system."